MRCB targets RM910 mil sales this year
Date：2015/05/12
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KUALA LUMPUR (May 12): Malaysian Resources Corporation Bhd (MRCB) aims to secure RM910 million in sales from its 2015 launches worth RM1.3 billion in gross development value (GDV), according to a report in The Edge Financial Daily today.
“We are targeting to secure sales of about 70% to 80% of the total launches in 2015,” MRCB chief financial officer Ann Wan Tee was reported as saying yesterday.
The group plans to launch The Grid @ Kia Peng next month with a GDV of RM400 million, followed by the Semarak City project in Kuala Lumpur (RM400 million in GDV), its second phase of 9 Seputeh in Old Klang Road (RM200 million in GDV) and the 3 Residences @ Kajang Utama (RM300 million in GDV).
Ann added that the demand for the various projects has been encouraging.
MRCB has 103.6ha in undeveloped land in Peninsular Malaysia with an estimated GDV of RM30 billion, which will keep it busy over the next 12 to 15 years.
When asked if the group is looking to acquire more land, Ann replied that MRCB would consider and assess strategic pieces of land.
On the tender submitted for the 3.2ha land belonging to the French Embassy in Jalan Ampang here, MRCB said the embassy could make a decision next month.
Meanwhile, for its construction division, MRCB said its order book currently stands at RM1.2 billion, while its tender book is valued at around RM2 billion.
Ann said the group’s tender book mostly comprises bids for infrastructure projects.
“Though we say our focus has always been property, there is also the construction side of MRCB. We are trying to grow the construction business as well. We have left behind that segment a bit as we were too focused on Kuala Lumpur Sentral,” said Ann.
Its construction segment currently contributes 45% of the group’s revenue, while the property development business contributes the remaining 55%.
In the longer term, the group aims to achieve a 50:50 contribution from the two segments.
Looking ahead, Ann said the property development segment will continue to be in the driver's seat for MRCB’s performance this year.